Best of 2014: Taking Stock of the Year in Equities

By David Larrabee

Early in 2014, Federal Reserve Bank of Dallas president Richard Fisher acknowledged, “There are increasing signs quantitative easing has overstayed its welcome . . . Stock market metrics such as price to projected forward earnings, price-to-sales ratios, and market capitalization as a percentage of GDP are at eye-popping levels not seen since the dot-com boom of the late 1990s.”

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